Borrowing in or near retirement
Illustrative example — not a real client result
Reviewing repayments, income changes and the proposed loan term.
The challenge
A homeowner approaching retirement wants to consider a loan while allowing for a possible change in household income.
The approach
- Review current income, expected retirement income, expenses and existing debts.
- Discuss the proposed term and how repayments or loan repayment would be managed over time.
- Refer retirement, superannuation and investment questions to a licensed financial adviser where appropriate.
Example outcome
The example sets out the affordability and planning issues to consider before a lender application.
Retirement-related borrowing needs individual assessment. General loan information is not retirement or investment advice.